Edelweiss Tokio Life - Wealth Secure Plus

Edelweiss Tokio Wealth Secure Plus ULIP Plan is a savings plan that helps you to secure your wealth and achieve your financial goals. Whether you are planning for your retirement, your child's education, or simply building wealth for the future, Edelweiss Tokio Wealth Secure Plus provides a solid foundation for your financial aspirations. In this article, let us understand the details and benefits of this plan.

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About Edelweiss Tokio Wealth Secure Plus Plan

Edelweiss Tokio Wealth Secure Plus is a Non-Participating, Individual, Unit-Linked Life Insurance Plan (ULIP). It is an investment plan that provides you with long-term wealth-creation opportunities along with life insurance coverage.

Features of Edelweiss Wealth Secure+

  1. Life Coverage:

    Plan ensures financial protection for your family in case of your unfortunate demise.

  2. Joint Life coverage:

    Option to choose to cover yourself and your spouse in the same policy.

  3. Child Coverage:

    Option to enhance protection for your child by continuing the plan in case of your unforeseen death. 

  4. Multiple Investment Fund Options:

    You get the option to choose from 7 investment funds along with unlimited switches under the Self-Managed Strategy.

  5. Additional Fund Allocations:

    • Loyalty Additions: Added at the end of each policy year from the 6th policy year onwards.

    • Booster Additions: Added from the end of the 10th policy year and thereafter every 5th policy year onwards.

    • Maturity Addition: Maturity additions are made at the end of the policy term.

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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Eligibility Criteria of Edelweiss Tokio Wealth Secure Plus Plan

The following table mentions the eligibility criteria you need to fulfill to buy this one of the best ULIP Plans:

Eligibility Criteria Variants of Edelweiss Wealth Secure+ Plan
Basic Variant Life Partner Variant Child Variant
Entry Age PPT: < 10 Years 0 – 50 years 18 – 45 years 18 – 40 years
PPT: >= 10 Years 0 -60 years 18 – 50 years
Maturity Age PPT: < 10 Years 18 – 70 years 23 – 55 years
PPT: >= 10 Years Option 1: 18 -70 years 23 – 60 years
Option 2*: 100 years
Policy Term (PT) Option 1: 5 -25 years 5 – 25 years
Option 2*: 100 – Entry Age
Premium Payment Term (PPT) Regular Pay: PPT = PT
Limited Pay: 5 years – (PT-1)years

*Option 2 is available only for the PPT of >= 10 years.

Premium Payment Criteria of Edelweiss Tokio Wealth Secure+

Learn the premium payment conditions for this investment option from the table mentioned below:

Premium Payment Criteria Plan Variants
Basic Option Life Partner Option Child Option
Minimum Sum Assured (SA) 7 × Annualised Premium
Maximum Sum Assured  10 × Annualised Premium
Top-Up Sum Assured 1.25 × Total Top-up Premiums
Annualised Premium (AP) PPT: < 10 Years Rs. 24,000 – No Limit Rs. 48,000 – No Limit
PPT: >= 10 Years Rs. 12,000 – No Limit Rs. 24,000 – No Limit
Top-Up Premium Rs. 5,000 – No Limit*
Premium Payment Mode
  • Monthly
  • Quarterly
  • Semi-Yearly
  • Yearly

*The limit is subject to Board Approved Underwriting Policy.

Benefits of Edelweiss Tokio Life Wealth Secure Plus Plan

Some of the major benefits offered by the Edelweiss Tokio Wealth Secure+ Plan are as follows:

  1. Death Benefit:

    If the Life Insured dies while the policy is in force, the nominee will receive the death benefit.

    For Base Variant- The nominee will receive the higher of:

    • Sum Assured (minus) Relevant Partial Withdrawals (plus) Top-Up Sum Assured (if any)

    • Fund Value (plus) Top-Up Fund Value (if any)

    • 105% of Total Base Premiums (plus) 105% of Total Top-Up Premiums (if any)

    For Life Partner Variant- The nominee will receive the higher of:

    • Sum Assured (minus) Relevant Partial Withdrawals (plus) Top-Up Sum Assured (if any)

    • Fund Value (plus) Top-Up Fund Value (if any)

    • 105% of Total Base Premiums (plus) 105% of Total Top-Up Premiums (if any)

    For Child Variant- The nominee will receive the higher of:

    • Sum Assured (minus) Relevant Partial Withdrawals (plus) Top-Up Sum Assured (if any)

    • 105% of Total Base Premiums (plus) 105% of Total Top-Up Premiums (if any)

  2. Maturity Benefit: 

    You get a maturity benefit if you survive until the maturity date and the policy is in force

    • The maturity benefit will be the fund value calculated at the prevailing NAV on the maturity date. 

    • The fund value will be payable as a lump sum or as per the settlement option chosen. 

  3. Loyalty Additions: 

    Loyalty additions are a type of bonus that is added to the fund value of your life insurance policy on regular payment of your due premiums.

    • The additions are made from the end of 6th policy year up to the end of the premium payment term (PPT)

    • In Edelweiss Tokio Wealth Secure+ Plan, 0.15% of the last 12 months average daily fund value (excluding top-up fund value) is added as a loyalty addition.

  4. Booster Additions: 

    • A percentage of the average daily fund value (excluding Top-up fund value) over the last 60 months is added to the policy as booster additions.

    • These additions are made at the end of the 10th policy year and every 5th policy year thereafter.

    • To calculate future Booster Additions, the total fund value, Loyalty Additions, and previously added Booster Additions are also considered.

    • The rate of booster additions in the Edelweiss Wealth Secure+ Plan are:

    PPT Policy Year for Booster Additions % of Average Daily Fund Value of the Last 60 Months
    < 10 Years From the end of the 10th policy year and there onwards from every 5th policy year 1.75%
    >= 10 Years 2.25%
  5. Maturity Addition:

    • At maturity, a Maturity Addition is added to the policy, which is a percentage of the average daily fund value (excluding Top-up fund value) over the last 60 months.

    • However, the Maturity Addition is only available for policies with a Premium Payment Term (PPT) greater than or equal to 10 years.

    • The percentage of the last 60 months average daily fund value that is added as maturity addition is 2.0%.

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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Features of Edelweiss Tokio Wealth Secure Plus

The key features of this ULIP plan are listed below:

  1. Settlement Option: 

    The settlement option is a way to receive the maturity benefit from your ULIP policy. Under this option, you will receive a regular stream of payments for a fixed period of time.

    • The payout period can be 1, 2, 3, 4, or 5 years. 

    • The frequency of the payments can be yearly, half-yearly, quarterly, or monthly instalments.

    • No charges except fund management charges (FMC), switching charges, if any, and mortality charges will be deducted during this period.

    • Partial withdrawals are not allowed during this period.

    • Switches are allowed during this period.

    • No loyalty additions, booster additions, or maturity additions will be added during the period of the settlement option.

  2. Flexibility of Premium Payment Term (PPT):

    • You have the option to change the PPT of your policy as per your choice.

    • However, the following conditions should be met:

      • All the due premiums until the date of the request must have been paid.

      • If the option to change the PPT is exercised, the Maturity Addition will be applicable as per the PPT as on the maturity date.

    • The option to change the PPT is not available in the 'Child' variant.

  3. Premium Redirection:

    • If you have chosen the Self-Managed Strategy, you can choose to allocate your future premiums, top-up premiums, to different funds than the ones you selected at policy inception.

    • You can also redirect the previous premium redirection requests.

    • This facility is available free of cost.

    • However, you need to give the company a written notice at least two weeks before the relevant premium is due.

  4. Partial Withdrawals:

    • You can withdraw a part of your fund value after the completion of the 5th policy anniversary.

    • The partial withdrawal will be first adjusted from the Top-Up Fund Value, and then from the Policy Fund Value.

    • The minimum amount that can be withdrawn is Rs. 500 per withdrawal.

    • You can make unlimited number of partial withdrawals as long as the resultant Fund Value after payment of such partial withdrawal is greater than or equal to 105% of total premiums paid (Including Top-up Premiums).

    • The partial withdrawals are free of cost.

    • Both Systematic Withdrawal Plan and Partial Withdrawal can be availed simultaneously.

  5. Systematic Withdrawal Plan (SWP):

    • SWP is an automated partial withdrawal facility that allows you to withdraw a pre-determined percentage of your fund value on a regular basis.

    • SWP can be started from the 10th policy year or thereafter.

    • The premium paying term must be of 10 years or more.

    • You can choose the frequency of withdrawals (yearly, half-yearly, quarterly, or monthly) and the policy year from which the withdrawals will start.

    • The maximum allowed systematic withdrawal percentage is 12% per annum of Fund Value.

    • The minimum withdrawable amount under SWP is Rs. 500.

  6. Top-up Premiums:

    • Top-up premiums are additional premiums that you can pay on your life insurance policy in addition to the regular premiums.

    • Top-up premiums increase your death benefit and your fund value.

    • You can pay top-up premiums only during the period of your policy and only if you have paid all of your regular premiums up to date.

    • Top-up premiums cannot be withdrawn from your fund value for a period of 5 years from the date of payment.

    • You cannot pay top-up premiums during the last 5 years of your policy.

    • The total amount of top-up premiums that you can pay is limited to the sum total of the regular premiums that you have paid.

  7. Flexibility to Change Variants:

    • You can change the variant of your policy during the term of the policy, but only at certain life-stage events.

    • You can only change variants on policy anniversaries.

    • You must give the company at least one month's notice before the change.

    • The change in variant must be approved by the insurance company.

    • The table below shows which variants you can change to, depending on your current variant and the life stage event:

    From 🡪 To Base Variant Life Partner Variant Child Variant (Individual Life) Child Variant (Joint Life)
    Base Variant N/A YES YES YES
    Life Partner Variant YES N/A NO YES
    Child Variant (Individual Life) YES NO N/A YES
    Child Variant (Joint Life) YES YES YES N/A

Working on Edelweiss Wealth Secure Plus Plan

Follow the steps mentioned below to learn the working of the Edelweiss Wealth Secure+ Plan:

Step 1: Choose your variant

  • Base: This variant provides life cover for the policyholder only.

  • Life Partner: This variant provides life cover for both the policyholder and their spouse.

  • Child: This variant provides life cover for the policyholder's child/children.

Step 2: Choose your premium, PPT, mode, and sum assured amount

Step 3: Choose your policy term

  • Option 1: You can choose a fixed policy term of 5, 10, 15, 20, or 25 years.

  • Option 2: This is a whole-life option where the maturity age equals 100 years. The policy term will be 100 years (minus) Entry Age. This option can only be opted for with the 'Base' variant.

Step 4: Choose your investment strategy

  • Life Stage & Duration-Based Strategy: This strategy invests your premiums in a way that is designed to meet your financial needs at different stages of your life.

  • Self-Managed Strategy: This strategy gives you more control over how your premiums are invested.

Investment Strategies of Edelweiss Wealth Secure Plus

Edelweiss Wealth Secure Plus is among the best investment plans that offer two investment strategies:

  1. Life Stage & Duration Based Strategy

    • This strategy helps you manage your risk appetite as you get older and your policy term gets shorter. 

    • It does this by automatically allocating your money between equity and debt funds based on your age and the remaining policy term.

    • As you get older, the policy term gets shorter, and your risk appetite decreases, the allocation percentage in the equity fund will decrease.

  2. Self-Managed Strategy

    • This strategy gives you complete control over how your money is invested.

    • You can choose to invest your money in any of the 7 ULIP funds offered by the Edelweiss Tokio Life Insurance Company.

    • You can also switch your money between the fund options as often as you like.

    • The self-managed strategy is a good choice for people who want to have control over their investment decisions.

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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Investment Fund Options Offered by Edelweiss Tokio Wealth Secure Plus Plan

Edelweiss Wealth Secure Plus offers a range of investment funds, which are as follows:

Fund Name Equity & Equity-Linked Assets Debt Instruments Money Market Instruments Risk Profile
Equity Large Cap Fund 60 – 100% 0 – 40% High Risk
Equity Top 250 Fund 60 – 100% 0 – 40% High Risk
Equity Mid-Cap Fund 80 – 100% 0 – 20% 0 – 20% High Risk
Managed Fund 0 – 40% 60 – 100% Medium Risk
Bond Fund 0% 100% Low to Medium Risk
Equity Blue Chip Fund 60 – 100% 0 – 40% High Risk
Gilt Fund NIL
  • Government Securities: 60 – 100%
  • Other than Government Securities: 0 -40%
Low to Medium Risk

Policy Details of Edelweiss Tokio Wealth Secure Plus Plan

The policy details of this plan are as follows:

  1. Surrender Benefit: 

    You can surrender your policy at any time during the policy term.

    • If Policy Surrender During 5-Year Lock-In Period: You will receive the fund value (Minus) discontinuance charge. The fund value will be credited to the discontinued policy fund with the insurance company.

    • If Policy Surrender After 5-Year Lock-In Period: You will receive the fund value as of the date of surrender. The policy will then terminate, which means that you will no longer be covered by the insurance.

  2. Premium Discontinuance:

    Discontinuance of Policy during lock-in period (during first five years): 

    • If you do not pay your premiums during the first 5 years of your policy, your policy will be discontinued. 

    • The fund value of your policy will be credited to the discontinued policy fund, and the risk cover and rider cover, if any, will cease.

    • You will have the option to revive your policy within 3 years from the date of the first unpaid premium. 

    Treatment of Policy while in Discontinuance Policy Fund:

    • If your policy is discontinued, the fund value of your policy will be credited to the discontinued policy fund. 

    • The proceeds of the discontinued policy, along with the returns generated on the same, will only be available to you upon the completion of the lock-in period or revival period, as applicable.

    Discontinuance of Policy after the lock-in period (after the first five years)

    • If you do not pay your premiums after the first 5 years of your policy, your policy will be discontinued. 

    • However, the policy will be converted into a reduced paid-up policy. 

    • This means that you will still have some coverage, but the amount of coverage will be reduced.

  3. Revival of Policy:

    • You can revive your policy within 3 years from the date of the first unpaid premium by a written application.

    • If you revive your policy within 5 years of the first unpaid premium, the policy will be revived along with the risk cover and investments made after deducting some revival charges.

    • If you revive your policy after the first 5 years of the first unpaid premium, the policy will be revived, restoring the original risk cover in accordance with the terms and conditions of the policy.

Exclusions

Suicide Clause:

If the policyholder commits suicide within the first 12 months of the policy, the death benefit will not be paid out to the nominee or beneficiary. Instead, they will only receive the fund value as available on the date of intimation of death.

Any charges other than Fund Management Charges (FMC) and guarantee charges recovered after the date of death will be added back to the fund value.

FAQ's

  • Is Edelweiss Life Insurance Safe?

    Yes, Edelweiss Life Insurance is considered to be a safe insurance company. It is a joint venture between Edelweiss Group and Tokio Marine Holdings, two well-known and respected financial institutions. Edelweiss Tokio Life Insurance is also a member of the Insurance Regulatory and Development Authority of India (IRDAI), which means that it is subject to strict regulatory oversight.
  • What is Edelweiss Tokio Life Guaranteed Income Plan?

    Edelweiss Tokio Life Guaranteed Income Plan is a life insurance plan that provides guaranteed income to the policyholder for a specified period of time. The plan also offers a death benefit in case the policyholder dies during the policy term.

    Here are some of the key features of the Edelweiss Tokio Life Guaranteed Income Plan:

    • Guaranteed income for a specified period of time

    • Death benefit

    • Tax benefits

    • Flexible premium payment options

  • What is the minimum age at entry under the wealth-plus plan?

    The minimum age at entry under the Wealth Plus plan of Edelweiss Tokio Life Insurance is 0 years for the Base Variant, 18 years for Life Partner Variant, and 18 years for Child Variant.
  • Who is the CEO of Edelweiss Tokio Life Insurance?

    The CEO of Edelweiss Tokio Life Insurance is Sumit Rai. He has been in this position since June 2018. Prior to this, he was the CEO-Designate of Edelweiss Tokio Life Insurance. He has over 25 years of experience in the insurance industry. He has held senior positions at various insurance companies, including ICICI Prudential Life Insurance and Max Life Insurance.
  • Is Edelweiss Tokio government or private?

    Edelweiss Tokio Life Insurance is a private-sector insurance company. It was established in 2011 as a joint venture between Edelweiss Financial Services Limited and Tokio Marine Holdings Inc., a Japanese insurance company.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Edelweiss Tokio Life - Wealth Secure Plus Reviews & Ratings

4.1 / 5 (Based on 22 Reviews)
(Showing Newest 10 reviews)
Karan
Jalore, July 08, 2016
ULIP Plan
Ulip insurance policy i have which is good in policy coverage and premium is low. Service is fantastic provided by the staff members. Online portal service is simple to operate and renewal of the policy can be done on it easily.
Vijay
Ahmednagar, June 28, 2016
Average Plan
The ulip plan I have is an average insurance policy plan. The premium is low and the policy coverage is normal. Service is good and claiming become easy due to this. Internet service is not that good but manageable.
Tarun
Ranikhet, May 23, 2016
Fantastic Plan
I bought edelweiss tokio ulip plan. The plan works for me. Policy coverage is also good ~90% with good amount of claims. Service provided by you is great and the web services are also nice. This policy plan is good reducer of taxes and good future investment too. I got regular updates.
Yogesh
Faridabad, May 23, 2016
Coverage Is Good
I have edelweiss tokio ulip plan. The policy coverage is high ~92% and the premiums are low. The premiums are payed online and it reduce paperwork. The services are fast and response is quick from executives and staff members. The updates are regularly mailed to me. Good policy, good terms and conditions.
Utkarsh
Coimbatore, May 23, 2016
Great Service
My edelweiss tokio ulip plan is awesome. The policy plan is very nice with low premiums. The policy coverage is high ~85% and claims are good. Perfect policy for future investments and the policy saves taxes also. The behaviour of the executives and staff members are good.
Omnath
Barielly, May 23, 2016
Damn Good
I purchase edelweiss tokio ulip plan. The policy coverage is high ~83% and claims are high but investment is low. Service is nice and executives are available anytime for assistance. I like the policy very much. The policy saves taxes and it is good investment too. Daily updates are send to me timely.
Priyanka
Pithapuram, May 23, 2016
Excellent Policy
I have edelweiss tokio ulip plan and it is good but the only thing is the service is bit slow rather than this all things are good. Like, policy coverage is 89% and claims are high but the investments are low. The behaviour of the executives and staff is very well. Please improve your services. The policy saves taxes too.
Lalit
Chandigarh, May 23, 2016
Nice
Edelweiss tokio ulip plan is great. The policy coverage is nice 82% and the claims are less. The premiums are low. The payback is high and the service is fast which is facilitate by the executives and staff members. The web service is good and operate easily. Satisfied with the policy.
Kamal
Sitarampur, May 23, 2016
Good Plan
I purchase edelweiss tokio ulip plan. The policy coverage is 90% and the premiums are low. The claims are good and the procedure is very easy and cleared in short time period. The services are fast and on time. The behaviour of the executives and staff members are very nice. Nice future investment which saves taxes too.
Jayant
Sitapur, May 23, 2016
Normal Plan
I buy edelweiss tokio life insurance and purchase ulip plan. Plan is good with low investment. Policy coverage is 85% and premium is fourteen thousand quarterly per year. Claims are ~Rs.30 L. Service you facilitate is really very good with fast interface of web services and from executives and staff members also.
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